I'd like to just give up!

[backtoschool]

I agree with LSU. Jumping into buying a house the minute you are eligible will just mean higher interest rates, and a home price that may end up going underwater. Housing has not bottomed out yet. I will be eligible to buy in November, but most likely will wait since I don't think the market has bottomed yet and I don't want to be stuck with too high an interest rate or a price that is not the bottom. I also want to put more money down. (See LSU you are training me well! )

[Logan]

I agree with LSU. Jumping into buying a house the minute you are eligible will just mean higher interest rates, and a home price that may end up going underwater. Housing has not bottomed out yet. I will be eligible to buy in November, but most likely will wait since I don't think the market has bottomed yet and I don't want to be stuck with too high an interest rate or a price that is not the bottom. I also want to put more money down. (See LSU you are training me well! )

You will never buy at the perfect time. I'm paying $2000 a month in rent so will spend 24k a year. I could wait 2 more years for the bottom and pay 48k in rent or buy soon and apply that 48k to paying down a loan. Who really knows where the market is going. Especially at the beach where I'm looking to buy.

Logan

[HHM]

You will never buy at the perfect time. I'm paying $2000 a month in rent so will spend 24k a year. I could wait 2 more years for the bottom and pay 48k in rent or buy soon and apply that 48k to paying down a loan. Who really knows where the market is going. Especially at the beach where I'm looking to buy.

Logan

Well, just FYI, in 2 years at $2000 per month on a mortgage, you would only pay down, roughly, $9,600 in principal, the rest will go to interest, taxes, insurance etc.

I really think people need to take a hard, new, look at homeownership. It may not be for everyone.